Commenting on the ratification of the Paris Agreement, European Green Party Co-Chair Reinhard Bütikofer said:

“By voting Yes for the ratification of the global climate agreement of Paris, the European Parliament guarantees its entry into force! The international community is thus making important strides forward. It’s a day for celebrations, even if we know all the hesitations that have and continue to characterise European behaviour. We must not stand still. Now starts the actual fight over the practical implementation of the agreement.

“The European Union now needs to roll up its sleeves in three areas: the energy transition, the mobility transition, and the finance transition. In these three areas it ain’t just about future climate policy – it’s also about the future of our economy and society. The European shift from fossil fuels to renewable energies can’t stand still midway if we want to retain future competitiveness. And it’s also out of economic rationality that the finance sector is pulling its investments out of fossil energies to invest in ecological alternatives.

“The European Union has the necessary instruments at hand to lead an economic transformation. As a ‘Transformation Union’, the EU can set high standards – for example in the context of the Capital Markets Union by asking financial actors to disclose the sustainability of their assets. The EU should not squander this opportunity”.